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Restructuring and Other Charges

3 Months Ended

May 05, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

Restructuring and Other Charges

In connection with the VMware Merger, we initiated restructuring activities to integrate the acquired business, align our workforce and improve efficiencies in our operations. We recognized $345 million and $1,057 million of restructuring charges primarily related to employee termination costs during the fiscal quarter and two fiscal quarters ended May 5, 2024, respectively. We expect these restructuring activities to be substantially completed by the end of fiscal year 2025. These charges were recognized primarily in operating expenses in continuing operations.

The following table summarizes the significant activities within, and components of, the restructuring liabilities during the two fiscal quarters ended May 5, 2024:

						Employee Termination Costs						Lease and Impairment Costs						Total
						(In millions)
Balance as of October 29, 2023						$	2					$	—					$	2
Restructuring charges (a)(b)						976						81						1,057
Utilization						(773)						(81)						(854)
Balance as of May 5, 2024						$	205					$	—					$	205

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(a) Lease and impairment costs included the write-down of $51 million lease-related assets and $30 million of asset impairments and other costs.

(b) Does not include $27 million of restructuring charges related to discontinued operations, which was included in income from discontinued operations, net of income taxes in our condensed consolidated statements of operations.

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The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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